bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 22.09.2017 | Name days: Maigurs, Mārica, Māris
LatviaLatvia

Latvia’s foreign trade turnover grows by 3.8%

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn June 2015, as compared to May, foreign trade turnover at current prices grew by 3.8%, of which exports value of goods increased by 1.6% and imports value of goods – by 5.6%.

In June, Latvia exported goods in the amount of 810.5 million euros, and imported – in the amount of 1,040.6 million euros. Nevertheless foreign trade balance worsened, since exports in total foreign trade value declined to 43.8% (in May 2015 – 44.7%), according to data from the Central Statistical Bureau of Latvia.

Main changes in exports in June, compared to May, include the following: exports of wood and articles of wood grew by 13.1 million euros or 9.5%; exports of products of the chemical and allied industries increased by 9.4 million euros or 17.3%; exports of optical instruments and apparatus (including medical); clocks and watches, musical instruments grew by 6.8 million euros or 43.4%; exports of prepared foodstuffs rose by 6.5 million euros or 11.6%; exports of basic metals and articles of basic metals dropped by 15.0 million euros or 16.7%.

Main changes in imports in June, compared to May, include: imports of vehicles and associated transport equipment increased by 23.1 million euros or 36.7%; imports of plastics and articles thereof grew by 7.0 million euros or 12.0%; imports of machinery and mechanical appliances; electrical equipment increased by 6.6 million euros or 3.0%; imports of prepared foodstuffs rose by 6.2 million euros or 8.2%.

Affected by seasonal factors, in June as compared to May both – exports (of 9.9 million euros or 31.5%) and imports (of 4.0 million euros or 31.5%) of vegetable products witnessed decrease.

In June main export partners in trade with the EU Member States were Lithuania (18.8% of total export), Estonia (11.9%), Germany (6.7%) and Sweden (6.2%); main import partners – Lithuania (18.5% of total import), Poland (11.3%), Germany (11.1%) and Estonia (7.8%).

Growth in exports to the CIS countries was mainly affected by increase in exports to Uzbekistan of 4.2 million euros or 2.8 times (growth in exports of products of the chemical and allied industries – 3.5 million euros or 4 times), as well as to Kazakhstan – of 2.2 million euros or 84.9% (growth in exports of agricultural and food products – 1.1 million euros or 2.2 times).

The main partner in trade with third countries was Russia, the share of which in total Latvian exports in June accounted for 8.7%, and in imports – for 7.2%. Compared to May exports value in June 2015 grew by 2.9 million euros or 4.4%, and imports value – by 8.2 million euros or 12.4%. Compared to June 2014 exports value dropped by 16.7 million euros or 19.3%, in turn imports value grew by 4.0 million euros or 5.6%.

In June 2015, compared to June 2014, rise in exports of furniture, other furnishing articles; prefabricated buildings was affected by increase in exports of prefabricated buildings of 2.6 million euros or 59.2%. In turn, decline in exports of passenger cars of 10.2 million euros or 59.2% significantly influenced the total exports of vehicles other than railway or tramway rolling stock, and parts and accessories thereof.Rise in imports of electrical machinery and equipment in June 2015, as compared to June 2014, was affected by increase in imports of machines for the reception, conversion and transmission or regeneration of voice, images or other data of 5.7 million euros or 2.4 times. In turn, drop in imports of mineral fuels, mineral oils and products of their distillation was mostly influenced by decrease in imports of diesel oil of 13.7 million euros or 18.2%.

Ref: 102.109.109.6782


Leave a reply

EC: Money for Rail Baltica in next period will be negotiated

Funding of the Rail Baltica railway project after the year 2020 will be negotiated upon as part of the EU's financial plan for the next period, has stated the European Commissioner for Mobility and Transport.

Sudraba published «false information» on parliamentary committee’s website

Parliamentarian Andrejs Judins asks to evaluate Inguna Sudraba’s possible breach of ethics with the publication of ‘false information’ on the website of Saeima’s parliamentary investigation committee responsible for the investigation of oligarch case.

Estonia plans to direct 300 million euros to healthcare

With the aim of improving the quality and access to Estonian healthcare, the country's government has backed amendments, which set forth increasing healthcare funding by 300 million over a period of five years

HTC agrees to sell part of its innovators and intellectual property to Google

U.S. computer technology firm Google has reached a deal with Taiwanese smartphone-maker HTC so that the latter would share part of its product development team and allow using HTC intellectual property.

22-year sentence for Imanta paedophile comes into force

With the Supreme Court of Justice abandoning the review of Riga Regional Court’s ruling, the 22-year sentence for the man prosecuted in the so-called Imanta paedophile case has come into force, as reported by the court.

Weekend in Latvia expected to be warm and sunny

The sky in Latvia will become clear during the day on Friday, 22 September. Rain is only expected to come to certain western areas. Air temperature will likely reach +16° C… +20° C, whereas air temperature at night will drop to +9° C… +14° C, as reported by State Environment, Geology and Meteorology Centre.

UK to offer EU 20 billion euros, if it can remain in single market

British Prime Minister Theresa May plans to offer a transitional agreement with the European Union that would concern a two-year period until the country leaves the bloc in 2019.

Number of bankruptcies down in Latvia and Estonia but up in Lithuania

Last year, the number of bankruptcies declined 12.4% in Latvia and 10.9% in Estonia. Lithuania, on the other hand, had experienced a 35.2% increase in the number of bankrupt companies, according to information compiled by Coface.

Lithuania sets off alarm bells over quality of international brands' foods

What Lithuania‘s State Food and Veterinary service announced last Tuesday was big news in Lithuania, but not so of a discovery to the majority of Eastern European consumers - food of international brands sold in Western Europe and in Eastern Europe, and Lithuania, are not just the same.

Saeima forms a group to support HIV and tuberculosis patients

On Thursday, 21 September, Latvia’s Saeima agreed with deputy Hosams Abu Meri’s proposal to form a deputy group to support HIV and tuberculosis patients, as confirmed by Abu Meri’s assistant Edgars Ikstens.

Politologist comments whether Vējoņis’ authority is at risk or not

Saeima’s vote in which Latvian President Raimonds Vējoņis’ proposal on the status of non-citizens’ children was not pushed forward was as though a strike against the president’s authority, comments Filips Rajevskis.

In pictures: Mexicans rush to find quake survivors

A massive rescue effort is continuing in Mexico City and other areas in Mexico to find possible survivors caught under buildings that collapsed in the September 19 earthquake, which has killed no less than 237 people.

Producer prices in industry grew 0.1% in August

Compared to July, the level of producer prices in Latvian industry rose by 0.1 % in August 2017. Prices of products sold on the domestic market, as well as those of exported products grew by 0.1 %.

Saeima supports simplification of investigation of less serious crimes

On Thursday, 21 September, Latvia’s Saeima conceptually supported changes to the Criminal Process Law that provide for simplification of investigation procedures of less serious crimes.

Ozoliņš: transit and logistics industries should communicate more actively

Mutual communication and information exchange among businesses working in the industry is the pre-condition for improvement of Latvia’s transit industry, said Transport Ministry’s state secretary Kaspars Ozoliņš at a meeting of the Logistics Council.

As Estonia mends ID cyber vulnerability, officials recommended mobile ID

As Estonia tries to solve potential security risks found in the chips of 750,000 national ID cards, state officials using e-services have been recommended to Mobile-ID in addition to ID cards.

Vējonis: peaceful resolution of Ukraine’s conflict is Latvia’s priority

«Russia’s unjustified aggression towards its neighbours is a serious breach of international law. Any aggressor who begins and continues such conflicts should be brought to justice for breach of international law,» says Latvian President Raimonds Vējonis.

Authorities apprehend criminal group that caused 1.7 million euros worth of damage to the state

Latvian State Revenue Service’s Finance Police in cooperation with State Police anti-terrorism unit Omega neutralized a criminal group that specialized in VAT fraud and money laundering, as confirmed by SRS representative Evita Teice-Mamaja.

Russia pledges to respect Beslan siege ruling on 2.9 million euros

European Court of Human Rights has dismissed Russia's appeal against its ruling that excessive force was used to end the Beslan school siege in 2004 leaving 330 people dead and Russia has stated it would comply with a ruling requiring it to pay 2.9 million euros in damages.

Rinkēvičs proposes radically reforming work of UN peacekeeping missions

Latvian Foreign Affairs Minister Edgars Rinkēvičs proposes radically improving United Nations Organization’s rapid response capabilities in peacekeeping missions, as reported by Foreign Affairs Ministry.

Spanish PM urges Catalonia to stop escalation around independence referendum

The Prime Minister of Spain Mariano Rajoy has insisted in a televised speech that separatists in the Catalonia regional government should stop preparations for the October 1 referendum, which he has called a chimera.

Multiple Latvian deputies stand in favour of education only in state language

Coalition partners are prepared to consider National Alliance’s possible proposal for a transition to education only in state language.

KNAB to procure 66 high-class safes for EUR 78,000

Latvia’s Corruption Prevention and Combating Bureau announced last week a procurement procedure for 66 first-class safes, as confirmed by KNAB and Procurement Monitoring Bureau.

Comprehensive Economic and Trade Agreement between EU and Canada comes into force

On Thursday, 21 September, the Comprehensive Economic and Trade Agreement between the European Union and Canada came into force, as confirmed by European Commission’s r press service in Latvia.

Ašeradens: productivity of Latvia’s economy is far behind Europe

Productivity of Latvia’s economy is far behind Europe – 43% behind the average productivity level in the European Union is actual prices, said Economy Minister Arvils Ašeradens in an interview to Neatkarīgā newspaper.